8228 Oak St New Orleans, LA 70118
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New Orleans QSR & Office, High NOI
Property size:
3,540 SFProperty Features for 8228 Oak St
General Information
- Property type
- Restaurants
- Square Feet
- 3,540 SF
- Class
- B
Building Details
- Year Built/Renovated
- 1960/2023
- Buildings
- 2
- Stories
- 2
- Units
- 2
Listing Agency: Ben & Burka Listing Agent: Aaron Kazanoff
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional New Orleans investment opportunity presents a fee-simple, two-building retail property at 8228 Oak St, totaling 3,540 net rentable square feet on a 4,315 sq ft lot. The property, built in 1960 and renovated in 2023, features a ground floor occupied by a nationally recognized Primo Hoagies franchise under a triple-net lease (NNN) with four years remaining. The upper floor currently houses a month-to-month therapy office/studio apartment, offering flexibility for owner-occupancy or additional lease income. The property boasts 100% occupancy, generating a strong net operating income (NOI) of $81,000, resulting in a 6.89% cap rate. The asking price is $1,175,000 ($331.92/sq ft). The property is zoned HU-MU and includes three parking spaces. This prime location on bustling Oak Street is surrounded by thriving businesses, including Zotz Cafe, Oak Street Brewery, Jacques-Imo's, Maple Leaf Bar, and Breads on Oak. This is a turnkey investment ideal for those seeking immediate cash flow and long-term appreciation in a desirable New Orleans neighborhood. The property is available for a 1031 exchange.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
PrimoHoagies
Take-out & Catering
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Orleans Parish
- State
- Louisiana
- Longitude
- -90.131126034761
- Latitude
- 29.948471823909
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FAQs
What type of property is this?
Restaurant - New Orleans QSR & Office, High NOI
Where is this restaurant located?
The property is located at 8228 Oak St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: $1,175,000 asking price for a 3,540 SF net-leased retail property in New Orleans, LA.; Multi-tenant property (2 units) with 100% occupancy and a 6.89% cap rate.; NNN lease structure with $81,000 annual NOI.
